Wall Street Report: Stocks Close Mostly Lower

Updated at 9:26 pm, October 11th, 2012

Hemera/Thinkstock(NEW YORK) — The day on Wall Street saw the Dow down 19 points, the Nasdaq finishing down three points, and the S&P up just a fraction.

The number of Americans who filed first time unemployment claims hit a four-year low last week. Economists say it’s not so much a sign that hiring is up, but that layoffs are slowing.

American Airlines will cut passenger-carrying capacity by one percent for the first half of November, as it tries to recover from widespread delays and cancellations. The carrier says the pullback will give it more time to return to normal operations without affecting holiday travel.

Federal authorities are using taped phone conversations to build criminal cases connected to JP Morgan Chase’s $6 billion trading loss. The New York Times says the feds are focused on four people in the company’s London office.